New Zealand Services PMI August 2024: 45.5 (prior 45.2)

BNZ – BusinessNZ Performance of Services Index (PSI) for August 2024 is 45.4

• prior 45.2
• remains in contraction, now for 6 months in a row – longest period since the global financial crisis
• average over the history of the survey is 53.2

BNZ’s Senior Economist Doug Steel:

• smoothing through monthly volatility, the PSI’s 3-month average remains deep in contractionary territory at 43.9

This article was written by Eamonn Sheridan at www.forexlive.com.